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Returns Paid To Early Social Security Cohorts

Author

Listed:
  • JAMES E. DUGGAN
  • ROBERT GILLINGHAM
  • JOHN S. GREENLEES

Abstract

"Previous research generally concludes that early participants in the Social Security system received a very good "deal"-better than later participants received, and much better than future participants are likely to get. However, researchers do not know the values of those deals and their distribution across individuals and groups largely because the necessary data have not been available. The study here uses the Social Security Administration's 1988 Continuous Work History Sample (CWHS) to calculate early participants' real internal rates of return to contributions. The study analyzes sex, race, household type, income, and birth cohorts and employs new Census Bureau mortality projects to forecast more accurately how life expectancies and benefit streams vary by race as well as by sex and birth cohort". Copyright 1993 Western Economic Association International.

Suggested Citation

  • James E. Duggan & Robert Gillingham & John S. Greenlees, 1993. "Returns Paid To Early Social Security Cohorts," Contemporary Economic Policy, Western Economic Association International, vol. 11(4), pages 1-13, October.
  • Handle: RePEc:bla:coecpo:v:11:y:1993:i:4:p:1-13
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    References listed on IDEAS

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    1. Burkhauser, Richard V & Warlick, Jennifer L, 1981. "Disentangling the Annuity from the Redistributive Aspects of Social Security in the United States," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 27(4), pages 401-421, December.
    2. Leimer, Dean R & Richardson, David H, 1992. "Social Security, Uncertainty Adjustments and the Consumption Decision," Economica, London School of Economics and Political Science, vol. 59(235), pages 311-335, August.
    3. Anthony Pellechio & Gordon Goodfellow, 1983. "Individual Gains and Losses from Social Security before and after the 1983 Amendments," Cato Journal, Cato Journal, Cato Institute, vol. 3(2), pages 417-442, Fall.
    4. Feldstein, Martin & Samwick, Andrew A., 1992. "Social Security Rules and Marginal Tax Rates," National Tax Journal, National Tax Association, vol. 45(1), pages 1-22, March.
    5. Alan S. Blinder & Roger H. Gordon & Donald E. Wise, 1980. "Reconsidering the Work Disincentive Effects of Social Security," NBER Working Papers 0562, National Bureau of Economic Research, Inc.
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    Citations

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    Cited by:

    1. Jeffrey R. Brown & Julia Lynn Coronado & Don Fullerton, 2009. "Is Social Security Part of the Social Safety Net?," NBER Chapters,in: Tax Policy and the Economy, Volume 23, pages 37-72 National Bureau of Economic Research, Inc.
    2. Afonso, Luís Eduardo & Fernandes, Reynaldo, 2005. "Uma Estimativa dos Aspectos Distributivos da Previdência Social no Brasil," Revista Brasileira de Economia - RBE, FGV/EPGE - Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil), vol. 59(3), July.
    3. Jeffrey B. Liebman, 2002. "Redistribution in the Current U.S. Social Security System," NBER Chapters,in: The Distributional Aspects of Social Security and Social Security Reform, pages 11-48 National Bureau of Economic Research, Inc.
    4. John Geanakoplos & Olivia S. Mitchell & Stephen P. Zeldes, "undated". "Social Security Money's Worth," Pension Research Council Working Papers 97-20, Wharton School Pension Research Council, University of Pennsylvania.
    5. Schröder, Carsten, 2012. "Profitability of pension contributions – evidence from real-life employment biographies," Journal of Pension Economics and Finance, Cambridge University Press, vol. 11(03), pages 311-336, July.
    6. Julia Lynn Coronado & Don Fullerton & Thomas Glass, 2002. "Long-Run Effects of Social Security Reform Proposals on Lifetime Progressivity," NBER Chapters,in: The Distributional Aspects of Social Security and Social Security Reform, pages 149-206 National Bureau of Economic Research, Inc.
    7. James E Duggan & Robert Gillingham & John S Greenlees, 2008. "Mortality and Lifetime Income: Evidence from U.S. Social Security Records," IMF Staff Papers, Palgrave Macmillan, vol. 55(4), pages 566-594, December.
    8. Coronado Julia Lynn & Fullerton Don & Glass Thomas, 2011. "The Progressivity of Social Security," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-45, November.
    9. Feldstein, Martin & Liebman, Jeffrey B., 2002. "Social security," Handbook of Public Economics,in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 4, chapter 32, pages 2245-2324 Elsevier.
    10. McClellan, Mark & Skinner, Jonathan, 2006. "The incidence of Medicare," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 257-276, January.
    11. Bhattacharya, Jay & Lakdawalla, Darius, 2006. "Does Medicare benefit the poor?," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 277-292, January.

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